This also all assumes that there is excess foundry capacity in the world for Google to expand into, which is not obvious. One would need exceptionally good operations to compete here and that has never been Google's forte.

https://www.tomshardware.com/tech-industry/artificial-intell...

"Nvidia to consume 77% of wafers used for AI processors in 2025: Report...AWS, AMD, and Google lose wafer share."